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Nov 29, 2012
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no tax increases at all. continue the tax break but the wealthiest 2% will have to help us deal with the deficit. >> as always, senator, you make your case very passionately. i want to play you a bit of sound from the white house senior adviser david plouffe in talking about how to resolve the fiscal cliff crisis. listen to this. >> we also need to engage in entitlement reform. medicare, medicaid carefully. these are cheap drivers of our deficit. we made progress with obama care. there's more we need to do. >> we need to engage and the white house is acknowledging this. do you not go along with the president? >> yes, sometimes i disagree with the president. >> yes, that is true. >> but if we are talking about making medicare more efficient, lowering the cost of prescription drugs to medicare, that's a reform along with their other reforms. >> how about this reform, raising the eligibility for medicare from 65 to 67 over several years? >> no. >> why not? >> why not? because there are working people out there w
no tax increases at all. continue the tax break but the wealthiest 2% will have to help us deal with the deficit. >> as always, senator, you make your case very passionately. i want to play you a bit of sound from the white house senior adviser david plouffe in talking about how to resolve the fiscal cliff crisis. listen to this. >> we also need to engage in entitlement reform. medicare, medicaid carefully. these are cheap drivers of our deficit. we made progress with obama care....
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Dec 1, 2012
12/12
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and gift tax. they want to lock in the exemption this year, before it goes away. >> possibly, the worst thing for the housing market is if there's no compromise and we end up going off that fiscal cliff, and then there's a sharp cut in government spending. that could push the economy into a recession, raising the unemployment rate and that could push home values back down, wolf. >> a serious problem for a lot of people. let's hope we don't go over that fiscal cliff. >> fingers crossed they will reach a compromise. i don't think there's anyone out there that wants to see us go over that fiscal cliff. >> that would be bad. but the clock is ticking. only a few weeks left. >>> the biggest problem between the united states and mexico and how to solve it. i'll speak with mexico's new president. my exclusive interview is just ahead. this line is a convenienc. how you doing today? i'm good thanks. how are you? i'm good. [ gordon ] but for others, it's all they can afford. every day nearly nine million olde
and gift tax. they want to lock in the exemption this year, before it goes away. >> possibly, the worst thing for the housing market is if there's no compromise and we end up going off that fiscal cliff, and then there's a sharp cut in government spending. that could push the economy into a recession, raising the unemployment rate and that could push home values back down, wolf. >> a serious problem for a lot of people. let's hope we don't go over that fiscal cliff. >> fingers...
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Dec 7, 2012
12/12
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raise tax revenue capping deductions, limiting loopholes, not raising tax rates. >> if you listen to the president's entire statement he said as part of a larger tax reform proposal. the fact is you can't get the revenues that are necessary simply by eliminating deductions, unless you want to whack the middle class, and that's not something we can afford to do now. let's also make the point, wolf, that everyone in america will benefit if we extend the tax cuts for, incomes under $250,000. you get the tax cut the first $250,000. but if we're going to deal with the debt problem, we have to do it in a balanced way. raising rates is part of what we need to do. >> one of the things republicans would tell you, when we created the bush tax cuts for everyone, including the wealthy, government revenues went up from 1.8 trillion to 2.5 trillion. >> 2001 and 2003? >> over a four-year period after bush tax cuts were put in place. why not stay with that, keep the economy growing. that's $700 billion in additional revenue. >> the whole thing could collapse. >> it is something we need to figure --
raise tax revenue capping deductions, limiting loopholes, not raising tax rates. >> if you listen to the president's entire statement he said as part of a larger tax reform proposal. the fact is you can't get the revenues that are necessary simply by eliminating deductions, unless you want to whack the middle class, and that's not something we can afford to do now. let's also make the point, wolf, that everyone in america will benefit if we extend the tax cuts for, incomes under $250,000....
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Dec 4, 2012
12/12
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. pretty sweet, huh? cute. but don't you have any apps on your phone that can make your life easier? who do you think i am, quicken loans? at quicken loans, we'll provide you with myql mobile. this amazingly useful app allows you to take pictures of your mortgage documents using an iphone or android smart phone... so you can easily send them to us. one more way quicken loans is engineered to amaze. ooh, la-la! there's a health company that can help you stay that way. what's healthier than that? >>> the fiscal cliff looms at the end of the month. president obama standing firm in this interview he did today with bloomberg tv. >> we're going to have to see the rates on the top 2% go up. a
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. pretty sweet, huh? cute. but don't you have any apps on your phone that can make your life...
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Dec 3, 2012
12/12
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he wants higher tax rates on wealthy americans. the republicans try to put some pressure on the democrats by laying out $600 billion in health savings, medicare and the like, adjust that cost of living increase for social security and other federal programs. the president's proposal puts pressure on republicans on rates. the republican proposal puts pressure on the president on entitlements and that cost of living adjustment. the question now is, do they negotiate or just posture? >> that's a good question. are you at all surprised that they're both negotiating in public with specific details of their respective plans instead of just doing this quietly behind the scenes, let their representatives go about a serious negotiation? >> there are some staff members on capitol hill who are circulating what they think will be ultimately where they have to -- as we get closer to christmas, sit down and cut out a deal. ip not surprised the republicans came forward with a public counterproposal because they thought the president was winning i
he wants higher tax rates on wealthy americans. the republicans try to put some pressure on the democrats by laying out $600 billion in health savings, medicare and the like, adjust that cost of living increase for social security and other federal programs. the president's proposal puts pressure on republicans on rates. the republican proposal puts pressure on the president on entitlements and that cost of living adjustment. the question now is, do they negotiate or just posture? >>...
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Nov 30, 2012
11/12
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republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> reporter: oftentimes this kind of public toing and froing masks active behind the scenes negotiations. the speaker insists not this time. >> is this the necessary public posturing that needs to go onto get an end game? or is there serious stalemate right now? >> no. there's a stalemate. let's not kid ourselves. i'm not trying to make this for difficult. >> reporter: boehner argues he took a political risk offering after the election to raise revenue other than tax rates. and the white house has offered little in return. >> the white house spends three weeks trying to develop a proposal. and they send one up here that calls for $1.6 trillion in new taxes, calls for a little -- not even $400 billion in cuts. and they want to have this extra spending that's actually greater than the amount they're willing to cut. i mean, it's -- was not a serious proposal. and so right now we're almost nowhere. >> reporter: gop sources tell cnn what irked them most wasn
republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> reporter: oftentimes this kind of public toing and froing masks active behind the scenes negotiations. the speaker insists not this time. >> is this the necessary public posturing that needs to go onto get an end game? or is there serious stalemate right now? >> no. there's a stalemate. let's not kid ourselves. i'm not trying to make this...
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our conversation in washington we talk about it being a tax event and only tax event. but the impact on unemployed people will be dramatic. the impact on those americans who don't pay a lot of income tax but benefitting from the extra two points of payroll relief, may not be dramatic but noticeable. this country could go into a recession. what's going on in this discussion is richard nixon's old madman theory, each side trying to persuade the other that it's just crazy enough to blow up the world. >> erick, quickly, you say it's better to go over the cliff than accept what the president's offered? >> yeah. i absolutely think so. the republicans unfortunately for people like me are willing to raise taxes to the tune of $800 billion. the democrats want to argue with them over the mechanism. and it's the mechanism that would hurt small businesses. the republican negotiating hand winds up being a little better on the other side. the fiscal cliff is the maximum of what ghkts want. you've got howard dean saying we need to raise taxes on everybody, not just the rich. steny ho
our conversation in washington we talk about it being a tax event and only tax event. but the impact on unemployed people will be dramatic. the impact on those americans who don't pay a lot of income tax but benefitting from the extra two points of payroll relief, may not be dramatic but noticeable. this country could go into a recession. what's going on in this discussion is richard nixon's old madman theory, each side trying to persuade the other that it's just crazy enough to blow up the...
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Dec 5, 2012
12/12
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on top of that, there's a 5% tax on the portion of very large tax estates. the tax policy tenners estimates the number will jump from 2600 in 2012 to 53,000 in 2013. that's a huge increase from where we stand right now. as you know, some people call this double taxation, because people pay income tax on their earnings, they save it, and then the money gets taxed when they pass it on to their decendents. >> a lot of farmers are respecially concerned about this. let's say you leave land to your children or grandchildren. and to pay the estate tax, you have to sell it, basically, because you don't have that kind of money. >> this is a philosophical difference on the sides. congress does nothing. and those estate taxes revert to the levels they were before george w. bush was in office. those taxes were lowered to help us get through a couple recessions. this is unfair. people should be entitled to pass along their hard earned money. the concentration of wealth needs to be kept in check. it doesn't create dynastys. that was one of the earliest goals of this tax.
on top of that, there's a 5% tax on the portion of very large tax estates. the tax policy tenners estimates the number will jump from 2600 in 2012 to 53,000 in 2013. that's a huge increase from where we stand right now. as you know, some people call this double taxation, because people pay income tax on their earnings, they save it, and then the money gets taxed when they pass it on to their decendents. >> a lot of farmers are respecially concerned about this. let's say you leave land to...